Swift's hefty contribution matched the donation made by the Academy of Country Music for a combined $200,000 donation in advance of the forthcoming Smokey Mountain Rise: A Benefit for the My People Fund telethon.

"The Academy and ACM Lifting Lives are honored to contribute in a meaningful way to Dolly's heroic efforts to help the people of her hometown – and when Taylor heard what we were planning, she offered to match our gift, which gives it that much more impact," Tiffany Moon, Executive Vice President and Managing Director of the Academy said in a statement to ET. "We are so grateful to Taylor for her support to the Academy’s charitable efforts through the years, and for helping us and Dolly Parton assist families in need at a time of crisis."

All proceeds from the telethon will benefit the Dollywood Foundation My People Fund, established by Parton this week to assist fire victims in Sevier County, Tennessee. The My People Fund will also provide $1,000 per month to Sevier County families whose homes are uninhabitable or completely destroyed as a result of the devastating inferno.

The Smokey Mountain Rise: A Benefit for the My People Fund telethon airs on Dec.13 at 8:00 p.m. EST on Great American Country.